Insider Selling: Everspin Tech (NASDAQ:MRAM) CEO Sells 1,768 Shares of Stock

Key Points

• Everspin Tech CEO Sanjeev Aggarwal sold 1,768 shares at an average price of $6.02, totaling approximately $10,643.36, while still retaining 591,904 shares valued at around $3.56 million.
• The company's stock rose by 6.1% on Tuesday, trading at $6.30, with a market capitalization of $142.51 million.
• Several institutional investors, including Lynrock Lake LP, increased their positions in Everspin Tech, highlighting growing interest in the stock among hedge funds and other institutions.

Everspin Tech (NASDAQ:MRAM - Get Free Report) CEO Sanjeev Aggarwal sold 1,768 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $6.02, for a total transaction of $10,643.36. Following the sale, the chief executive officer directly owned 591,904 shares in the company, valued at approximately $3,563,262.08. The trade was a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Sanjeev Aggarwal also recently made the following trade(s):

• On Thursday, August 7th, Sanjeev Aggarwal sold 1,357 shares of Everspin Tech stock. The stock was sold at an average price of $6.10, for a total transaction of $8,277.70.
• On Thursday, July 3rd, Sanjeev Aggarwal sold 12,677 shares of Everspin Tech stock. The stock was sold at an average price of $6.82, for a total transaction of $86,457.14.
• On Wednesday, July 2nd, Sanjeev Aggarwal sold 17,327 shares of Everspin Tech stock. The shares were sold at an average price of $6.47, for a total transaction of $112,105.69.

Everspin Tech Stock Up 6.1%

Shares of Everspin Tech stock traded up $0.36 on Tuesday, hitting $6.30. The company's stock had a trading volume of 91,198 shares, compared to its average volume of 112,178. Everspin Tech has a 52-week low of $4.34 and a 52-week high of $7.08. The firm has a fifty day moving average price of $6.33 and a 200-day moving average price of $5.80. The company has a market capitalization of $142.51 million, a P/E ratio of 90.00 and a beta of 0.13.

Institutional Investors Weigh In On Everspin Tech

Several institutional investors and hedge funds have recently made changes to their positions in MRAM. Lynrock Lake LP boosted its position in shares of Everspin Tech by 132.0% in the 1st quarter. Lynrock Lake LP now owns 1,586,370 shares of the business services provider's stock worth $8,090,000 after buying an additional 902,489 shares in the last quarter. Herald Investment Management Ltd boosted its position in shares of Everspin Tech by 20.0% in the 4th quarter. Herald Investment Management Ltd now owns 600,000 shares of the business services provider's stock worth $3,822,000 after buying an additional 100,000 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Everspin Tech in the 2nd quarter worth about $428,000. Nuveen LLC purchased a new stake in shares of Everspin Tech in the 1st quarter worth about $133,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Everspin Tech by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 418,594 shares of the business services provider's stock worth $2,675,000 after buying an additional 16,032 shares in the last quarter. 44.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MRAM. Wall Street Zen raised shares of Everspin Tech from a "hold" rating to a "buy" rating in a report on Saturday. Needham & Company LLC initiated coverage on shares of Everspin Tech in a research note on Thursday, May 1st. They issued a "buy" rating on the stock.

Everspin Tech Company Profile

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.

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